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bp signed a memorandum of understanding (MoU) with the Government of Egypt under which bp will explore the potential for establishing a new green hydrogen production facility in the country. It is intended that high-potential locations across Egypt will be considered as part of the feasibility study, targeting best-in-class resources.
The global benchmark levelized cost of electricity, or LCOE, has retreated to where it was in 2019. The cheapest renewable power projects in the first half of 2022 were able to achieve an LCOE of $19/MWh, as in best-in-class onshore wind farms in Brazil, and $21/MWh for tracking PV farms in Chile, and $57/MWh for offshore wind in Denmark.
This geographically diverse group comprises Brazil and Mexico in the Americas; South Africa and Nigeria in Africa; Egypt and Turkey in North Africa/Mediterranean; Saudi Arabia and Iran in the Middle East; as well as Thailand and Indonesia in Asia. Renewables in total will account for about 15% of energy demand in 2040.
Commenting on the news, Richard Thompson, Editorial Director at MEED, part of GlobalData, said: For nearly a century, the Gulf’s abundant supplies of accessible hydrocarbons has put it at the center of a gas-guzzling global economy. Territories that were largely desert in the middle of the 20th century are now thriving oil economies.
At this week's COP27 climate conference in Egypt , attendees will have a new group to contend with: an alliance of more than 60 companies involved in the electronics supply chain. The aim is to reduce greenhouse gas emissions "throughout the electronics value chain," according to SEMI.
Semiconductors, green hydrogen, renewable energy, electronics, MSMEs, and electric mobility are some of the focus areas for the summit. We are constructing the world’s largest Renewable Energy Park at Khavda and investing Rs 2 lakh crore in Gujarat. This will lead to 1.7 times more production and 2.7 lakh to one million.
That’s according to 2023 IEEE President Saifur Rahman , who was among the speakers from engineering organizations at the COP27 event held in Egypt in November. Rahman, a power expert and professor of electrical and computer engineering at Virginia Tech , is the former chair of the IEEE ad hoc committee on climate change.
Held in Egypt from November 6 – 20, COP27 extended closing by more than a day to reach an agreement that developed nations will provide “loss and damage” funding for vulnerable countries hit hard by climate disasters. Smart algorithms flatten the demand curve and balance use of electricity across all chargers at a facility.
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